- What is an Illinois Standard Lease Agreement
- Types of Illinois Lease Agreements
- Disclosures for Illinois Lease Agreements
- Illinois Residential Lease Agreement Sample
- FAQs About Illinois Lease Agreement
Illinois Lease Agreement
What is an Illinois Standard Lease Agreement
An IL lease agreement is a legally binding contract between a landlord and a tenant. This is written to conform to state laws where the property is located. In Illinois these allow both parties to comply with a series of set terms for a specified number of months or years.
A lease agreement should contain the following details:
How long the tenant may legally reside in the property
How much rent should be paid
Information about the security deposits necessary
When rental installments are due
Any additional costs that must be serviced by the tenant
The rules regarding the proper use of the property
Situations that constitute a lease violation eviction procedures
Types of Illinois Lease Agreements
There are many types of Illinois lease agreement forms that can be used to manage and legally bind many different types of rental situations. They allow landlords to rent out various types of property they might have and for tenants to find the best kind of tenancy for their needs.
The most common types of lease agreements in Illinois include:
Standard residential lease agreements: Under an Illinois standard lease agreement both the landlord and tenant commit to a fixed set of terms that last for a series of months or years.
Rent agreements with option to purchase: Illinois lease agreements with rent-to-own options are designed for tenants that wish to buy the property they are renting. This requires them to pay a sum of money each month, in addition to rent, to cover the costs of the principal.
Month-to-month rental agreements: Month-to-month lease agreements will often have similar basic terms to standard Illinois residential lease contracts. However, they differ as they can be renewed or ended on a month-by-month basis. Their terms may also be flexibly altered each month.
Commercial lease agreements: Commercial leases are provided by landlords of retail property to tenants that intend to use the real estate to run a business.
Room rental agreements: In rental properties with shared living areas a room rental agreement can be used to rent a singular bedroom.
Condo or mixed unit agreements: This kind of agreement can be used by landlords of properties with multiple rental units such as condominiums, duplexes, mobile homes, and cooperatives.
Sublease Agreement: An Illinois sublease agreement allows tenants to reassign or ‘sublease’ the property to another individual. This requires the property landlord’s permission and must be specifically allowed in the original lease.
Disclosures for Illinois Lease Agreements
Illinois lease agreements must contain a few disclosures and addendums when they are completed and signed. This is to properly inform the tenant of any health risks or potential issues with the property or details about how the property is managed that they must be aware of.
These essential addendums include the following:
Carbon monoxide detectors: Illinois landlords must provide carbon monoxide detectors and must give information on them in the lease. The detectors must be placed within 15 feet of where the tenant will sleep (ILCS 094-0741).
Concession granted: Any concessions made on the amount of rent must be clearly stated in the lease agreement (765 ILCS 730/). This must be marked on the page by a header of at least half an inch in height, with the words “Concession Granted” used. Not including this detail when a concession has been provided is considered a misdemeanor in the state of Illinois.
Lead paint disclosure: If the rental unit is in a building constructed before 1978, the landlord or their agent must disclose whether lead paint can be found on the property and must provide safety information for any located on the premises (410 ILCS 45/).
Radon gas disclosure: Illinois properties must include an addendum that advises on the potential presence of high levels of radon gas and its dangers (420 ILCS 46/).
Smoke detectors: Landlords must provide smoke detectors on the rental property. However, the tenant will usually be responsible for the maintenance and functionality of them during the lease (425 ILCS 60/).
Shared meter: If the tenant has to pay part of shared utility costs the landlord must provide the formula used to calculate their portion of the bills (765 ILCS 735/).
Illinois Lease Agreement Laws
An IL lease agreement must be written and signed within the laws of Illinois state, otherwise, it will be legally contestable and can be declared invalid and block either party from recourse if a violation is committed.
These will police how you start and end the contract and control what procedures you can reasonably ask a tenant to follow.
The most important laws in Illinois to consider when you are renting a property include:
Security deposits: Illinois landlords may charge any amount as a deposit if the property is not subject to rent control (765 ILCS 710/). This must be returned to the tenant within 30 days of vacating the property. Landlords must also state any deductions within this time frame and release the remaining amount of the security deposit within 45 days of the tenant leaving. Be aware, however, Chicago has its own rules on deposits, which specify that landlords must pay interest on the money taken and it must only be deposited in specific types of accounts at Chase Bank.
Landlord’s right to enter: Landlords don’t need to provide any notice before visiting the property (765 ILCS 705/). However, it is best practice to provide at least 24 hours’ notice as a courtesy.
Illinois Residential Lease Agreement Sample
Before beginning the process of creating a residential lease agreement in Illinois it is sensible to review an example document first. Use our IL lease agreement sample below to find out more about the structure and contents of a fully-fledged rental contract.
FAQs About Illinois Lease Agreement
It is important to carefully prepare an IL lease agreement to suit the needs of the landlord and tenant exactly. To help demystify the process a little simply review our FAQs below to learn more about the specificities of rental contracts in Illinois.
How to Get a Lease Agreement in Illinois?
It is possible to create an Illinois lease agreement completely online. Using our residential lease agreement maker you can tailor your document for your specific needs and take advantage of professional templates and expert tips.
Can a Lease Be Negotiated in Illinois?
Yes, an Illinois residential lease agreement can be negotiated before it is signed. The landlord and tenant will usually discuss the terms before the agreement is put into action. However, once a lease agreement is signed it cannot be altered until it comes to its natural end or is canceled.
Do I Need to Notarize my Illinois Residential Lease Agreement?
It is not necessary to notarize an IL residential lease agreement. However, whilst this might not be a legal requirement in Illinois state, signees are still advised to consider this step to provide further legal enforceability.